Foreclosure Help Video #1
Intro to A Loss Mitigation Plan
Hi, I’m Nevada Loss Mitigation Specialist and foreclosure consultant Damian Falcone and this is part 1 of the Loss Mitigation Plan video series for providing foreclosure help.
The goal of the loss mitigation plan series is to pose the questions that a homeowner comes across Either early on in their personal evaluation or even after a loan modification or work-out option occurs.
We will analyze these questions to provide foreclosure help and develop an equation that lets You the homeowner know – Based on your own decisions - What Your “Loss Mitigation Plan” should be.
In Episode 1 we will be answering the question: What is a “Loss Mitigation Plan”
This is Get Modified! The go to source for loan modification and
Foreclosure prevention information. As always, for more information, go to www.falconcreditmanagement.com
Mitigation is defined in law as the Idea - that a party who has suffered loss has to take reasonable action to minimize the amount of the loss suffered.
For our discussions we will be looking at Loss Mitigation primarily from a homeowner’s Financial point of view. This will get you closer to answering the question “What should I do in the event I experience a loss – OR if I have already experienced a Loss”.
We need to Go through the process of figuring out what decisions will be best for you – You will be answering the questions:
Should I attempt to negotiate a loan modification?
What should I do now to put me in a better place in the future?
Am I experiencing a Financial Hardship?
Am I living at a surplus or deficit?
Is my employment stable?
What are the consequences to me and my family of moving?
At what price should I keep my house or what price should I look to rent something more affordable?And;
Should I consider Bankruptcy Protection?
– These are a number of the questions everyone should answer with the goal Being ..Financial responsibility.
We are attempting to look at all the Components and consequences of your potential decisions- to give you an idea now of what you will be experiencing in the future.
We would like to show that homeowners/consumers should be looking a MINIMUM of 6 months into the future - And - that Paying Bills - Even 1st tier priority debts UNTIL YOU HAVE NO MONEY LEFT - is not responsible - to you, your family or your community. We will be looking at this from the point of view of the average mortgage loss mitigation plan for providing foreclosure help.